Primary and secondary real estate markets in Montenegro: Considerations when buying

Purchasing real estate in Montenegro, like in other countries, involves various legal aspects during transactions. On the primary market, properties are usually bought directly from the developer. However, it often happens that after construction is completed, the developer transfers ownership to their subsidiaries, and transactions are then conducted on the secondary market, where ownership is transferred from the first to the second owner, even though the property is new.

Advantages of buying from developers on the primary market in Montenegro

Price: Buying during the construction phase allows for significant savings, as prices are usually lower in the initial sales phase. Apartment prices on the primary market in Montenegro vary depending on proximity to the sea, ranging from €1,200/m² to €1,500/m² in coastal cities like Herceg Novi, Bar, and Budva. Inland, for example in Podgorica, average prices are around €1,000/m². On the secondary market in Montenegro, prices are higher, averaging €1,500/m² on the coast and €1,100/m² in Podgorica.

Time savings: Buying from the developer simplifies the process and saves time, as it does not require checking the seller’s financial history or investigating debts and encumbrances on the property.

Wide selection: Purchasing during the construction phase allows you to choose the size, floor, parking, layout, and decoration of the apartment according to your preferences.

Savings on repairs: Apartments in new buildings often do not require major repairs or maintenance in the first few years after moving in.

Infrastructure: New residential complexes in Montenegro usually include supermarkets, pharmacies, and other essential facilities within the complex.

Advantages of buying already built properties on the secondary market

Developed infrastructure: Secondary properties are often located in more established areas with existing infrastructure.

Savings on repairs: Buying already occupied apartments often means that repairs have already been made, and some apartments even come furnished, allowing for quick move-in.